PEMBROKE, Bermuda (AP) — PEMBROKE, Bermuda (AP) — Axis Capital Holdings Ltd. (AXS) on Wednesday reported fourth-quarter net income of $293.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Pembroke, Bermuda-based company said it had profit of $3.38. Earnings, adjusted for investment gains, were $2.97 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.
The insurance company posted revenue of $1.47 billion in the period. Its adjusted revenue was $1.58 billion.
For the year, the company reported profit of $1.08 billion, or $12.35 per share. Revenue was reported as $6.1 billion.
Axis Capital shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $90, a rise of 51% in the last 12 months.
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